Show 1 NEWS BEHIND THE NEWS From New York and Washington By Telegram Correspond P Pre Present r e s e n t and I prospective boosts in the national income threaten violent price violent price inflation in the opinion of government economists They say that the proposed curtailment of purchasing purchasing purchasing pur pur- chasing power through the new I tax bill and expanded federal savings opportunities are hopelessly hopelessly hopelessly hope hope- lessly inadequate to check the trend National income for lor 1940 was wasa a about b o 0 u t but toward the end of that year it had risen to the rate of eighty billions A total of at least ninety billions is anticipated for lor 1941 and some experts would not be surprised if the figure were nearer a hundred billion There are forecasts of full lull employment employment employment em em- and an income of by 1942 provided provided provided pro pro- vided existing and threatened production bottlenecks can be broken The spread between the eighty and the hundred billion dollar total measures new purchasing purchasing purchasing pur pur- chasing power that will be rolling rolling rolling roll roll- ing around in peoples people's pockets The 1941 tax bill will take only of this surplus surplus surplus sur plus from recipients The sale of defense bonds is running at atthe atthe atthe the rate of a year and may fall off Savings de deposits deposits deposits de- de posits have shown an upward trend but at best they will ac account account account ac- ac count for only another two or three billions The discrepancy between this total approximately approximately approximately ten billions and the twenty billion increase represents represents represents the additional buying power that will be looking for foran foran an outlet at a time when the supply of civilian goods is de decreasing decreasing decreasing de- de creasing fast Solutions now being being being be be- ing considered are a hike in banks' banks reserve requirements a gr greatly atly expanded social security ty system with heavier pay roll levies and a stiff sales tax next year When President Roosevelt ar arranged arranged arranged ar- ar ranged for eventual financial aid to the Soviet he took cognizance cognizance cognizance cog cog- of public prejudice against a war with Rus Rus- sia The story has been wrapped up and ready to break for days F. F D. D R. R Rs R.'s s 's congressional scouts informed him that any move to turn over lend lease-lend stuff to Stalin would provoke protests on Capitol Hill In their opinion such a step might even jeopardize jeopardize jeopardize dize passage of the second lease- lease lend bill Returning members especially from the middle west have reported that their constituents constituents constituents con con- are to a partnership with the They refuse to accept the administrations administration's realistic viewpoint viewpoint viewpoint view view- point that anybody fighting Hitler Hitler Hit Hit- ler Jer is our friend So F. F D. D R. R called in that hard-boiled hard busInessman businessman businessman busi busI- Jesse H. H Jones and the latter agreed to dip into his R F C treasury if necessary Jesse had said previously that Russia was a good risk al although although al- al though her assets in the United States are negligible Political gossips in Washing Washing- I ton have tailored a Democrat na national ticket for lor 1944 costs conc s sIng ing of Wallace and Winant T T. vice president generally l Ij If a as F F. D D. D Rs R.'s for the top spot but the it ac K to London had Deft sev nevi before been mentioned if possibility u 1 l In view of the two m m background and interests Interest i I pointed out that such a s sa da would have a fine balance b tot l geographically and in Its I a if peal to agriculture an and ide Mr Wallace will come fat some credit if the reorganize o 0 P M which he chains should settle down and d df d. good job for the national nationals He also has several otE assignments designed to kif hr him in the public eye More MoreaL i more Mr Winant will figure the news as the president a ex expands the role this countr a r playing in the battle of the K lantic And the ambassador 11 tc w would o 0 u l 1 d serve a spokesman for workers at IE peace parley Unlike Woodro Wilson it is considered dou dank ful that F. F D D. R. R will attend attendant at postwar conference He pro pmt ably will send Mr Wallace tf rl Mr Winant's presence Is almo aIm assured Should the war end endl fore 1944 their talents talent wo wed have a world stage J |